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Thursday, December 30, 2010

Gold Set for Fresh Highs in 2011 Gold Price Forecasts and Predictions

Gold Set for Fresh Highs in 2011 Gold Price Forecasts and Predictions ; Gold bulls say the price of the precious metal is set to reach fresh highs early in the new year, on mounting inflation fears fueled by loose U.S. and euro-zone monetary policies.

With central-bank purchases and Chinese imports emerging to support gains, analysts and traders say they expect the metal to quickly surpass $1,500 a troy ounce, reaching as high as $1,700 an ounce—or even $2,000, according to forecasts by some of the industry's more bullish participants—before the tide turns slightly in 2012.

The gold market has put in a solid performance in 2010, benefiting largely from sovereign-debt troubles in the euro zone and the anticipation of extended monetary stimulus in the U.S. The metal's spot price is up almost 30% since the start of the year, having hit a multitude of new records, including its latest all-time high of $1,431.30 an ounce in early December.

2011 Price of Gold Forecast or Prediction
In 2010 the price of gold sold between 1100 and 1200 dollars per ounce. What can we expect from gold prices in 2011? Before we could ever launch into a gold price forecast or prediction per ounce we need to have a strong grasp of what is the driving force behind gold prices. Once we comprehend what might pull gold in one direction or the other, we have an increasing ability to guess future prices. Read More...

Gold Set for Fresh Highs in 2011
The fact that gold is often perceived more as an alternative currency than a commodity will be of continued benefit to the metal, say BMO Capital Markets analysts in a recent report, as investors continue to use precious metals to protect against an uncertain outlook for Western currencies and risks associated with European and U.S. sovereign debt and inflation. Read More...

Outlook for Gold 2010 to 2011
For 2010, expectations for gold have risen 4% to a median $1,197 an ounce from $1,150.50 in January, when market watchers were forecasting prices to rise this year before plateauing in 2011. The extent of the rise and fall will depend on the amount of non-monetary gold imported for processing and then re-exported. Looking at global production, ABARE said it saw 2009 up 6% to 2553 tones, the highest level for six years. Read More...

Goldman Sachs cuts 2010, 2011 gold price forecasts
Goldman Sachs cut its 2010 gold forecast to $1,165 an ounce on Monday from a previous price view of $1,265, citing a rise in real interest rates, but said it still expects to see the metal at record highs next year. Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today

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